GUIDEWIRE CLAIM CENTER PROFESSIONAL 2025 ACTUAL EXAM COMPLETE QUESTIONS WITH DETAILED ANSWERS ||ALREADY GRADED A+||

Checking set - ANSWER A point in the job where issues can be raised (Pre-quote, Bind, Pre-issuance) Blocking point - ANSWER Stops the progress of a job until an issue is approved (some issues can be informational (non-block3 statuses of policies getting renewed - ANSWER Renewed Not Taken Non-renewed Steps to creating a submission/policy (12) - ANSWER 1. Offering - allows the insurers to define product types based on existing base product definitions 2. Prequalification - answer basic questions to reveal if the applicant qualifies for certain coverages, or could reveal UW issues 3. Policy info - captures basic info 4. UW - large insurers license subsidiaries to do UW based on state requirements 5. Coverages - ex. for PA - collision, liability 6. Modifiers - increases or decreases in coverages based on certain factors 7. Risk Analysis - where UW concerns show up. UW can review or maintain any issues 8. Policy Review - can see full application summary 9. Quote - all policy info is sent to a rating engine and returns a quote 10. Forms - become available at this point 11. Payments - payments screen looks in depth at payment options to consider payment plans 12. Bind and Issue - coverage becomes legally binding with Bind even without official documentation. Issues means the documents are getting issued Supporting information under an Account (11) - ANSWER 1. Summary 2. Contacts 3. Location 4. Participants 5. Transactions 6. Submission Manager 7. Policies and UW files 8. Documents 9. History 10. Notes 11. Related Accounts Types of Policy Transactions (6) - ANSWER 1. Submission 2. Change 3. Renew 4. Cancelled 5. Rewritten 6. Reinstated Jobs can be started in 3 ways - ANSWER 1. By users through Actions menu 2. External systems through API's 3. PC batch processes What are Coverage Terms - ANSWER A value that further defines a specific coverage (Deductible and Limit) Coverage can have 0, 1, or multiple terms attached List of Policy Lines (8) - ANSWER 1. Personal Auto 2. Commercial Auto 3. General Liability 4. Homeowners 5. Business Owners 6. Inland Marine 7. Commercial Property 8. Worker's Comp Policy File Contains (4) - ANSWER 1. Contact 2. Location 3. Form 4. Policy (contains coverages, coverables, coverage terms, and premium) What is a product model? - ANSWER How a product is configured - What LOB's are required? What coverages can you add to each LOB? A product appears when you are in a "New Submission" screen in PC Configured in Product Designer Ex. Commercial Package, Commercial Property What are clauses? - ANSWER Coverages, Exclusions, and Conditions A Policy Line contains: (5) - ANSWER 1. Exclusions 2. Conditions 3. Modifiers 4. Coverage 5. Forms What is availability and what is it based on? (6) - ANSWER A component either appears or doesn't appear on a live app Based on: 1. Start/End date 2. Industry Code 3. UW company 4. Policy Type 5. Policy Transaction type 6. Jurisdiction What is the max number of submissions you can make per LOB? - ANSWER 5 Parallel rating - ANSWER rates coverables in parallel using multiple threads what is asynchronous quoting and under what conditions is it enabled? (2) Which LOBs support it? (5) - ANSWER Runs the quote processes in the background in the following conditions: 1. Asynchronous quoting is enabled 2. Number of coverables exceeds a threshold Supports - Commercial auto (for vehicles), Business owners (for buildings), Commercial property (for buildings), General Liability (for exposures), Worker's comp (for covered employees) Quote -- Alert Message -- Quoting runs in the background -- quoting completes -- Unlocks -- creates activity -- clicking activity page shows the quote What is 2 step quoting - ANSWER Step 1 - Validates the policy data/rates the policy Step 2 - completes the post rating tasks like generating forms and raising UW issues. This process waits for the user to accept the quote if they are satisfied Instead of the "Quote" button, you will see a "Rate" button in the first step In base configuration, 2 step quoting is available for Commercial Property Policy File details (on left hand side bar) (11) - ANSWER 1. Summary - concise info about policy file 2. Billing - view overall balances for policy periods 3. Contacts - list all contacts associated with a policy 4. Participants - lists users interacting with a policy by role 5. Policy Transaction - displays summary info about all policy transactions that have occurred on the policy 6. Notes - view and search notes related to the policy 7. Documents - view and search documents related to the policy 8. Risk Analysis - issues that may affect the policy (UW issues, claims, prior policies, prior losses, contingencies) 9. Reinsurance - insurance risk transferred to another insurance company to all or part of the liability 10. History - view and search historical events pertaining to policy 11. Financial Transactions - an internal tool used for rating while developing the application (only people with the "InternalTool" permission can see this screen Preemption - ANSWER 2 transactions are initiated from the same base period - a transaction starts while another is in progress The first job that finishes/gets bound "wins out" and the losing job has to be modified to handle the preemption How to override an automatic renewal - ANSWER Pre-configure renewal directions - this puts the expiring term into either automatic nonrenewal or manual renewal Interrupt renewal - If you start a renewal and then change the existing policy, what happens? - ANSWER If the renewal is unbound, the policy change can be added to the renewal Rewites - ANSWER You must cancel a policy to rewrite it Full term rewrite (discards the original policy and policy term) Mid term rewrite (retains part of the original policy) Which policy jobs can not be out of sequence? - ANSWER Submissions, renewals, and audits What is an out of sequence transaction? - ANSWER When a change is made after the first one is bound but is supposed to go effective before the first change (if no conflict, PC will merge the changes, if there is a conflict, the user decides what to keep) What is a group - ANSWER A collection of users, producer codes, queues, and regions created based on geographic regions, divisions, and departments Rules for groups (5) - ANSWER 1. Users can belong to more than 1 group 2. An internal user can be assigned a producer code for any org 3. External users must be associated with an org 4. If Producer Code Security is set to "Yes" the user can only use their role permissions against policies with a matching producer code, even if they have a larger set of permissions available through their roles 5. "Misassigned" category is for jobs assigned to groups but to an invalid user. Activities and jobs can be mass reassigned. How can managers and supervisors see what is going on with the users in their groups? - ANSWER The Team Tab allows them to see all jobs and activities grouped by time and status. They can mass reassign activities, and jobs, and can view policy transactions by role or activity Can view by role or by activity Types of Producers (2) - ANSWER 1. Producer of Record - Created the submission, receives commision based on the premium 2. Producer of service - services the policy (usually the same as the producer of record if a new policy - if different, they only get commission after the policy is renewed) What is a producer code - ANSWER A unique ID assigned by the insurer to track which agent/agency is responsible for which policies and accounts How to delegate role management to external users - ANSWER Use the "User admin role" The can have access to ao build groups, org and permissions for their own orgs but not others Security in PC (2) - ANSWER 1. Role based security - a role is a named collection of permissions that typically map to a jo function or title 2. Date based security - defines what data can be access and typically managed through producer codes 3 levels of assignment for external users - ANSWER 1. fully restricted - only access to their own org 2. protect internal - can be assigned producer codes from any external org 3. allow internal - allow access to internal or external orgs Samples of forms (5) (4) - ANSWER 1. declaration sheets - a summary of all exposures and coverages 2. Base forms - attached regardless of what coverages or exposure units are selected 3. Additional coverage forms - add additional coverage 4. Exclusion forms - limit forms 5. Manuscript forms - blank forms with space for free text High level: 1. Policy forms form PC 2. Invoices from BC 3. Delinquency Letters from BC 4. Notification letters of new claims from CC How are forms created? - ANSWER Form Inference - PC generates forms based on policy details (this logic is defined by Form Patterns) Form Pattern - defines metadata about a form and the inference logic (the define valid forms the system can infer on a policy) The actual Form content is created by a Document Production System (DPS) The created form content is stored in a Document Management System Forms vs Documents - ANSWER 1. Forms contain legal info, documents contain relevant account, policy, or job info 2. Forms are part of the policy contract, documents are not Endorsement numbers - ANSWER Indicates the order that a form was added to the policy (apply to a specific policy period (sequential starting at 1) Components of UW authority - ANSWER UW Issue - a specific occurance on a policy transaction where an UW condition was true. Created when a condition gives undesirable results based on data on the policy or account. These can stop jobs until approved UW Rule - Describes how the policy transaction is affected by the UW issues and how issues can be approved. Rules include conditions which will raise an UW issue Authority Grant - The ability to approve UW issues and to what degree Authority profile - a group of authorities that can be given to a user, allowing the user to approve UW issues How can UW issues be created? (2) - ANSWER 1. Rule conditions can be created in the UW Rule UI, more complex conditions can be written in gosu 2. UW issues can also be created manually on the UW Issues screen (can not be removed automatically